Moscow Exchange Introduces New Ethereum ETF
The Moscow Exchange has announced plans to introduce a new fund that will track one of the largest Ethereum exchange-traded funds (ETFs) globally. This development comes shortly after the successful introduction of a Bitcoin index futures product earlier this month.
Details of the Ethereum Fund
Maria Patrikeyeva, the Managing Director of the Derivatives Market at the Moscow Exchange, revealed in a statement to Russian media outlet RBC that the Ethereum fund is expected to be launched in August.
The initiative aims to facilitate the trading of a futures contract related to investments in Ethereum (ETH). Patrikeyeva highlighted that the iShares Ethereum Trust ETF, based on the NASDAQ exchange in New York, had its debut in July 2024, marking a significant addition to the crypto investment landscape.
Growing Enthusiasm for Cryptocurrency
This year, the Moscow Exchange has shown a growing enthusiasm for cryptocurrency, as seen by its introduction of Bitcoin (BTC) futures contracts on June 4. Currently, these offerings are available only to qualified investors and are settled in rubles, linking their value to BlackRock’s IBIT ETF.
Following this, the exchange indicated its intention to rapidly expand its offerings in crypto derivatives, with talks of additional Bitcoin derivative instruments expected soon. They are also seeking regulatory approval to launch mutual funds and structured bonds focusing specifically on cryptoasset indices.
Upcoming Futures Products
In her comments, Patrikeyeva mentioned that more futures products will become available next month. One such product will be tied to American investment funds that focus on US government bonds, with the underlying asset being the iShares 20+ Year Treasury Bond ETF (TLT). This will mark a significant first for the Moscow Exchange, as it will be the initial futures contract tracking the movements of US debt securities.
Futures Offerings for Chinese Tech Companies
Moreover, this week, the exchange is preparing to roll out futures offerings for shares of Chinese tech companies Tencent and Xiaomi, both of which are listed on the Hong Kong Stock Exchange.
